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If you meet certain requirements, you may qualify for the foreign earned income and foreign housing exclusions and the foreign housing deduction.
If you are a U.S. citizen or a resident alien of the United States and you live abroad, you are taxed on your worldwide income. However, you may qualify to exclude from income up to an amount of your foreign earnings that is adjusted annually for inflation ($101,300 for 2016).Form 2555 (Foreign Earned Income Exclusion) calculates the amount of foreign earned income and/or foreign housing you can exclude from taxation. Form 2555-EZ is a simplified version of this form.
Here's how to add – or remove – a Form 2555 or 2555-EZ from your return:
Tip: The -T or -S suffix after the 2555 stands for taxpayer or spouse, respectively.
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